(From ABC News)
The Trump administration has asked China to reduce its trade deficit with the U.S. by $200 billion by the end of 2020, striking an assertive stance in talks aimed at averting a trade war between the world’s two-largest economies.
A U.S. official confirmed the authenticity of a document making that and other requests that were presented to China ahead of two days of trade talks that ended Friday. The official spoke on condition of anonymity due to the confidential nature of the talks.
Earlier, President Donald Trump had said he wanted Beijing to cut by $100 billion the chronic U.S. trade deficit, which Washington says stood at a record $375.2 billion last year.
After the talks wrapped up, the Commerce Ministry said the two sides had agreed to set up a mechanism to try to work through their dispute, though differences remained, Chinese state media reported. The report did not give specifics, suggesting little progress had been made.